XML 12 R4.htm IDEA: XBRL DOCUMENT v3.22.1
Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenues:    
Total revenue $ 744,545 $ 671,944
Costs, expenses and (gains):    
General and administrative expense 651,574 605,223
Depreciation expense 2,027 2,303
Gain on sale of land (1,025,735) (354,577)
Total costs, expenses and (gains) (318,765) 292,891
Income from operations 1,063,310 379,053
Interest income 15,625 44,179
Miscellaneous income 4,384 14,992
Income before income taxes 1,083,319 438,224
Federal and state income tax expense:    
Current 263,970 98,841
Total income taxes 263,970 98,841
Net income $ 819,349 $ 339,383
Earnings per share, basic and diluted (in dollars per share) $ 0.42 $ 0.17
Weighted average shares outstanding, basic and diluted (in shares) 1,942,495 1,942,495
Oil and Gas [Member]    
Revenues:    
Oil and gas $ 364,907 $ 257,247
Costs, expenses and (gains):    
Cost of goods and services sold 41,685 29,379
Timber [Member]    
Revenues:    
Oil and gas 151,102 134,720
Costs, expenses and (gains):    
Cost of goods and services sold 11,684 9,409
Surface Leases, Unrelated Parties [Member]    
Revenues:    
Revenues, leases 190,203 241,644
Surface Leases, Related Parties [Member]    
Revenues:    
Revenues, leases 38,333 38,333
Surface Leases [Member]    
Costs, expenses and (gains):    
Cost of goods and services sold $ 0 $ 1,154